Europe is preparing contingency plans in the event of a complete cessation of Russian gas imports, the European Commissioner for Energy said, warning that any country was in danger of being cut off by Moscow. Kadri Simson said the EU was competing to store as much gas as possible and could replace most of Russia’s …
Profits are down 8.5 percent from the previous year as blockades depress margins and disrupt factory operations. Chinese industrial companies’ profits fell at the fastest pace in two years in April as high commodity prices and supply chain chaos caused by COVID-19 constraints depressed margins and disrupted factory operations. Profit fell 8.5 percent year-on-year, according …
China’s industrial profit fell sharply in April due to COVID restrictions Read More »
Bank of America CEO Brian Moynihan provides a look at “Morning with Mary” from the World Economic Forum in Davos, Switzerland. Tesla CEO Elon Musk, who became even more famous for buying Twitter and who had previously predicted an economic recession, argued that the coming recession was a “really good thing”, a necessary “rough awakening” …
By Fiona Parker, Money Mail reporter One retiree said there was a “relief” to hear about the emergency aid, which includes the return of the state pension trip next year. Mick Thompson (67) and his wife Nix (58) expect to receive around £ 850 to help ease their financial pressures. Mr Thompson said: “It was …
Dollar Tree Inc.’s and Dollar General Corp’s deep discount stores recorded the largest rallies in history due to stronger sales projections. According to Abigail MojžíšováBloomberg Published May 26, 2022May 26, 2022 Shares extended their rebound from the lowest levels in more than a year as solid outlooks from retailers strengthened confidence in the economy despite …
US stocks jumped as solid outlooks from retailers boost confidence Read More »
Don’t call it an unexpected tax! Rishi Sunak spoke out against such ideas, so apparently no one would ever implement them. Labor has demanded an unexpected tax, and we all know how their ideas would damage the economy. So what we had yesterday was, in the words of the Chancellor, a “temporary targeted tax on …
Boris and Rishi’s tax seizures led Britain to recession Read More »
Rishi Sunaka’s response to the cost-of-living crisis has met with mixed acceptance, with charities and anti-poverty groups saying it provides temporary relief to millions of households, but leaves those on the lowest incomes facing uncertain futures. The package will increase the income of 8 million low-income households this financial year with a one-off increase in …
Rishi Sunak measures only “temporary relief” to the cost of living crisis Read More »
In his brief statement to the House of Commons on the cost-of-living crisis in the United Kingdom, Rishi Sunak was able to alleviate two economic problems, but at the expense of a third. The good news is that his actions are likely to lower the maximum inflation rate this year and help British households deal …
Sunak statement helps reduce inflation, but risks higher rates Read More »
If the Bank of England has to raise interest rates faster as a result, Pickering adds, he risks “starting a recession. Unemployment would be much worse for living standards than high energy prices, that’s for sure. “ JP Morgan’s Allan Monks expects the Monetary Policy Committee (MPC) to add a further increase in interest rates …
The Rishi Sunaka support package leaves middle-class families short of £ 3,100 Read More »
EU Economy Commissioner Valdis Dombrovskis summed up the dilemma this week as the bloc tries to agree on an embargo on Russian oil. “On the one hand, we are discussing massive financial support for Ukraine and, on the other hand, we are continuing to provide financing for the Russian war,” he said. “It needs to …
Tariffs on Russian oil could pave the way for an embargo Read More »
